| Before a property is put on the market for let, it is advisable to consider the following questions. These are questions that potential Tenants will need answering. It is worth seeking professional advice if there is any uncertainty.
Q. How long is the rental period for the property?Assured short-hold tenancy agreements are for a minimum of 6 months.
Q. What is the minimum rental income that can be afforded? Don't be too optimistic. Every week that a rental property is empty costs money. Periods of time when the rental property is not occupied should be factored into any calculations. As a guideline, in normal market conditions, if no enquiries are being received the rental price has been set too high.
Q. What category of Tenant do you wish to attract?Most building insurers insist on professional (working) Tenants, so it is worth checking. Otherwise the policy could be invalidated if the Tenants do not comply with this category.
Q. Will the rental property be furnished or unfurnished?This is a big deciding factor for Tenants. The decision really depends on the type of Tenant being sought, the length of rental periods, type of property, etc.
Q. If the rental property is to be furnished, do all furnishings carry the fire resistant Kitemark?This is an important legal requirement and should not be ignored.
Q. Are the legally required gas inspection certificates available?Again, this is a legal requirement and should not be ignored. A qualified Gas Engineer can perform an audit and grant an inspection certificate.
Q. Have all electrical appliances been tested and passed as safe?A qualified Electrician can perform an audit of all electrical appliances on behalf of the Landlord.
Q. How will the property be managed?This includes rent collection, references, credit checks, tenancy agreements, inventories, etc? This can either be done by the Landlord or more usually a letting agent is instructed to handle the property management.
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